Valley National Bancorp Announces Second Quarter 2025 Results

NEW YORK, July 24, 2025 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY), the holding company for Valley National Bank, today reported net income for the second quarter 2025 of $133.2 million, or $0.22 per diluted common share, as compared to the first quarter 2025 net income of $106.1 million, or $0.18 per diluted common share, and net income of $70.4 million, or $0.13 per diluted common share, for the second quarter 2024. Excluding all non-core income and charges, our adjusted net income (a non-GAAP measure) was $134.4 million, or $0.23 per diluted common share, for the second quarter 2025, $106.1 million, or $0.18 per diluted common share, for the first quarter 2025, and $71.6 million, or $0.13 per diluted common share, for the second quarter 2024. See further details below, including a reconciliation of our non-GAAP adjusted net income, in the "Consolidated Financial Highlights" tables. Ira Robbins, CEO, commented, "I am pleased by the continued balance sheet strength and commercial loan growth exhibited during the second quarter. Our profitability metrics are trending positively, consistent with our expectations for improvement throughout the year. We remain focused on growing low-cost deposits, which we expect will support our aspirations in 2025 and beyond.” Mr. Robbins continued, “Our quarterly credit results continued to improve as illustrated by the significant reduction in our provision for loan losses on both a quarter-over-quarter and year-over-year basis. Our allowance coverage ratio remains at a comfortable level, and we expect general stability going forward.” Key financial highlights for the second quarter 2025: Net Interest Income and Margin: Our net interest margin on a tax equivalent basis increased by 5 basis points to 3.01 percent in the second quarter 2025 as compared to 2.96 percent for the first quarter 2025. Net interest income on a tax equivalent basis of $433.7 million for the second quarter 2025 increased $12.3 million compared to the first quarter 2025 and increased $30.7 million as compared to the second quarter 2024. The increase in net interest income from the first quarter 2025 was mainly driven by higher yields on new loan originations, increases in average loans and taxable investments and one additional day during the second quarter 2025. See additional details in the "Net Interest Income and Margin" section below.Loan Portfolio: Total loans increased $734.3 million, or 6.0 percent on an annualized basis, to $49.4 billion at June 30, 2025 from March 31, 2025 mostly due to increases of $719.8 million and $137.6 million in commercial and industrial (C&I) and automobile loans, respectively. Total commercial real estate (CRE) loans (including construction loans) decreased $288.6 million from March 31, 2025 largely due to normal repayments and continued selective origination activity. As a result, our CRE loan concentration ratio (defined as total commercial real estate loans held for investment and held for sale, excluding owner occupied loans, as a percentage of total risk-based capital) declined to approximately 349 percent at June 30, 2025 from 353 percent at March 31, 2025. See the "Loans" section below for more details.Allowance and Provision for Credit Losses for Loans: The allowance for credit losses for loans totaled $594.0 million and $594.1 million at June 30, 2025 and March 31, 2025, respectively, representing 1.20 percent and 1.22 percent of total loans at each respective date. During the second quarter 2025, we recorded a provision for credit losses for loans of $37.8 million as compared to $62.7 million and $82.1 million for the first quarter 2025 and second quarter 2024, respectively. See the "Credit Quality" section below for more details.Credit Quality: Net loan charge-offs totaled $37.8 million for the second quarter 2025 as compared to $41.9 million and $36.8 million for the first quarter 2025 and second quarter 2024, respectively. Non-accrual loans totaled $354.4 million, or 0.72 percent of total loans, at June 30, 2025 as compared to $346.5 million, or 0.71 percent of total loans, at March 31, 2025. Total accruing past due loans (i.e., loans past due 30 days or more and still accruing interest) increased $147.5 million to $199.2 million, or 0.40 percent of total loans, at June 30, 2025 as compared to $51.7 million, or 0.11 percent of total loans, at March 31, 2025. The majority of this increase related to three CRE loans, of which two were no longer past due in July 2025. See the "Credit Quality" section below for more details.Deposits: Total deposit balances increased $759.4 million to $50.7 billion at June 30, 2025 as compared to $50.0 billion at March 31, 2025 mainly due to increases in both direct and indirect (brokered) customer time deposits during the second quarter 2025, partially offset by the outflows of certain indirect customer deposits in the savings, NOW and money market deposit category. Non-interest bearing deposits increased $118.2 million to $11.7 billion at June 30, 2025 from March 31, 2025. See the "Deposits" section below for more details.Subordinated Debt Redemptions: On June 15, 2025, we redeemed in full $115 million of 5.25 percent fixed-to-floating rate subordinated notes issued in June 2020 and due in June 2030. The transaction was accounted for as an early debt extinguishment and resulted in a $922 thousand pre-tax loss reported within non-interest expense for the second quarter 2025. In addition, we repaid $100 million of 4.55 percent fixed rate subordinated notes that matured on June 30, 2025.Non-Interest Income: Non-interest income increased $4.3 million to $62.6 million for the second quarter 2025 as compared to the first quarter 2025 mainly due to increases of $2.8 million and $2.0 million in capital markets income and service charges on deposit accounts, respectively. The increase in capital markets income was largely driven by a higher volume of interest rate swap transactions executed for commercial loan customers during the second quarter 2025.Non-Interest Expense: Non-interest expense increased $7.5 million to $284.1 million for the second quarter 2025 as compared to the first quarter 2025 largely due to an increase of $4.3 million in professional and legal fees driven by higher consulting and legal expenses. Salary and employee benefits expense also increased $2.8 million from the first quarter 2025 mainly due to annual salary merit increases late in the first quarter 2025 and higher cash incentive compensation and severance related expenses. These items were partially offset by lower payroll taxes.Efficiency Ratio: Our efficiency ratio was 55.20 percent for the second quarter 2025 as compared to 55.87 percent and 59.62 percent for the first quarter 2025 and second quarter 2024, respectively. See the "Consolidated Financial Highlights" tables below for additional information regarding our non-GAAP measures.Performance Ratios: Annualized return on average assets (ROA), shareholders’ equity (ROE) and tangible ROE were 0.86 percent, 7.08 percent and 9.62 percent for the second quarter 2025, respectively. Annualized ROA, ROE, and tangible ROE, adjusted for non-core income and charges, were 0.87 percent, 7.15 percent and 9.71 percent for the second quarter 2025, respectively. See the "Consolidated Financial Highlights" tables below for additional information regarding our non-GAAP measures. Net Interest Income and Margin Net interest income on a tax equivalent basis of $433.7 million for the second quarter 2025 increased $12.3 million compared to the first quarter 2025 and increased $30.7 million as compared to the second quarter 2024. Interest income on a tax equivalent basis increased $20.3 million to $806.3 million for the second quarter 2025 as compared to the first quarter 2025. The increase was mostly driven by (i) higher yields on new loan originations, (ii) increased average loan balances driven by new organic loan originations largely within the C&I loan portfolio, (iii) additional interest income from purchases of taxable investments mainly within the available for sale portfolio during the first half of 2025 and (iv) one additional day in the second quarter 2025. Total interest expense increased $8.0 million to $372.6 million for the second quarter 2025 as compared to the first quarter 2025 largely due to (i) a $548.7 million increase in average time deposit balances, (ii) the increased cost of certain non-maturity deposits and (iii) the aforementioned increase in day count. See the "Deposits" and "Other Borrowings" sections below for more details. Net interest margin on a tax equivalent basis of 3.01 percent for the second quarter 2025 increased by 5 basis points from 2.96 percent for the first quarter 2025 and increased 17 basis points from 2.84 percent for the second quarter 2024. The increase as compared to the first quarter 2025 was mostly due to the 7 basis point increase in the yield on average interest earning assets largely caused by higher interest rates on new loan originations in the second quarter 2025 and higher yielding investment purchases. The overall cost of average interest bearing liabilities increased 2 basis points to 3.56 percent for the second quarter 2025 as compared to the first quarter 2025 mostly due to higher interest rates on certain non-maturity deposit products, partially offset by a lower overall cost of time deposits driven by both new volumes and maturities. Our cost of total average deposits was 2.67 percent for the second quarter 2025 as compared to 2.65 percent and 3.18 percent for the first quarter 2025 and the second quarter 2024, respectively. Loans, Deposits and Other Borrowings Loans. Total loans increased $734.3 million, or 6.0 percent on an annualized basis, to $49.4 billion at June 30, 2025 from March 31, 2025 mainly due to increases in the C&I and automobile loan portfolios, partially offset by lower CRE loan balances. C&I loans grew by $719.8 million, or 28.4 percent on an annualized basis, to $10.9 billion at June 30, 2025 from March 31, 2025 largely due to our continued strategic focus on organic growth within this category. Automobile loans increased by $137.6 million, or 27.0 percent on an annualized basis, to $2.2 billion at June 30, 2025 from March 31, 2025 mainly due to high quality consumer demand generated by our indirect auto dealer network and low prepayment activity within the portfolio. Residential mortgage loans also moderately increased $73.6 million to $5.7 billion at June 30, 2025 from March 31, 2025 as new loan originations outpaced repayment activity. Total CRE (including construction) loans decreased $288.6 million to $28.8 billion at June 30, 2025 from March 31, 2025. The decrease was largely driven by runoff from repayment activity and our efforts to focus new CRE loan originations on more profitable holistic banking clients. Additionally, construction loans decreased $172.1 million to $2.9 billion at June 30, 2025 from March 31, 2025 mainly due to the migration of completed projects to permanent financing within the multifamily loan category of the CRE loan portfolio during the second quarter 2025. Deposits. Actual ending balances for deposits increased $759.4 million to $50.7 billion at June 30, 2025 from March 31, 2025 due to increases of $962.9 million and $118.2 million in time deposits and non-interest bearing deposits, respectively, partially offset by a $321.6 million decrease in savings, NOW and money market deposit balances. The increase in time deposit balances was mainly driven by continued deposit inflows from new promotional retail CD offerings and additional fully-insured indirect (i.e., brokered) customer CDs during the second quarter 2025. The increase in non-interest bearing deposit balances was mostly due to higher commercial customer deposit inflows in the second quarter 2025. Savings, NOW and money market deposit balances decreased at June 30, 2025 from March 31, 2025 largely due to lower indirect customer deposits, as well as some seasonal runoff in governmental deposits account balances. Total indirect customer deposits (including both brokered money market and time deposits) totaled $6.5 billion and $6.3 billion at June 30, 2025 and March 31, 2025, respectively. Non-interest bearing deposits; savings, NOW and money market deposits; and time deposits represented approximately 23 percent, 52 percent and 25 percent of total deposits as of June 30, 2025, respectively, as compared to 23 percent, 53 percent and 24 percent of total deposits as of March 31, 2025, respectively. Other Borrowings. Short-term borrowings, consisting of securities sold under agreements to repurchase and FHLB advances, increased $103.2 million to $162.2 million at June 30, 2025 from March 31, 2025 largely due to an increase in FHLB advances. Long-term borrowings totaled $2.9 billion at June 30, 2025 and remained relatively unchanged as compared to March 31, 2025. In June 2025, we fully redeemed $215 million of subordinated notes that were mostly offset by the issuance of new long-term FHLB advances during the second quarter 2025. Credit Quality Non-Performing Assets (NPAs). Total NPAs, consisting of non-accrual loans, other real estate owned (OREO) and other repossessed assets, increased $4.6 million to $360.8 million at June 30, 2025 as compared to March 31, 2025. Non-accrual loans increased $7.9 million to $354.4 million at June 30, 2025 as compared to $346.5 million at March 31, 2025 mainly because of a net increase in non-performing CRE loans during the second quarter 2025, which was partially offset by a decline in non-performing C&I loans. Non-accrual C&I loans decreased largely due to the full charge-offs of four loan relationships totaling $17.4 million during the second quarter 2025. Non-accrual loans represented 0.72 percent of total loans at June 30, 2025 as compared to 0.71 percent of total loans at March 31, 2025. OREO decreased $2.9 million to $4.8 million at June 30, 2025 from March 31, 2025 mostly due to the fair valuation write-down related to one CRE property recorded during the second quarter 2025. Accruing Past Due Loans. Total accruing past due loans (i.e., loans past due 30 days or more and still accruing interest) increased $147.5 million to $199.2 million, or 0.40 percent of total loans, at June 30, 2025 as compared to $51.7 million, or 0.11 percent of total loans, at March 31, 2025. Loans 30 to 59 days past due increased $89.5 million to $123.0 million at June 30, 2025 as compared to March 31, 2025 due, in large part, to one $39.2 million CRE loan and one $35.0 million construction loan included in this early stage delinquency category at June 30, 2025. The $39.2 million CRE loan 30 to 59 days past due was subsequently paid in full by the borrower in July 2025. Loans 60 to 89 days past due increased $62.8 million to $73.3 million at June 30, 2025 as compared to March 31, 2025 mainly due to a $60.6 million CRE loan. This past due loan was subsequently modified and was brought current to its restructured terms in July 2025. Loans 90 days or more past due and still accruing interest decreased $4.8 million to $2.9 million at June 30, 2025 as compared to March 31, 2025 mainly due to a decrease in residential mortgage loan delinquencies. All loans 90 days or more past due and still accruing interest are well-secured and in the process of collection. Allowance for Credit Losses for Loans and Unfunded Commitments. The following table summarizes the allocation of the allowance for credit losses to loan categories and the allocation as a percentage of each loan category at June 30, 2025, March 31, 2025 and June 30, 2024: June 30, 2025 March 31, 2025 June 30, 2024 Allocation Allocation Allocation as a % of as a % of as a % of Allowance Loan Allowance Loan Allowance Loan Allocation Category Allocation Category Allocation Category ($ in thousands)Loan Category: Commercial and industrial loans$173,415 1.60% $184,700 1.82% $149,243 1.57%Commercial real estate loans: Commercial real estate 270,937 1.04 266,938 1.02 246,316 0.87 Construction 64,042 2.24 54,724 1.81 54,777 1.54 Total commercial real estate loans 334,979 1.16 321,662 1.10 301,093 0.95 Residential mortgage loans 48,830 0.86 48,906 0.87 47,697 0.85 Consumer loans: Home equity 3,689 0.58 3,401 0.56 3,077 0.54 Auto and other consumer 18,587 0.55 19,531 0.62 18,200 0.63 Total consumer loans 22,276 0.56 22,932 0.61 21,277 0.62 Allowance for loan losses 579,500 1.17 578,200 1.19 519,310 1.03 Allowance for unfunded credit commitments 14,520 15,854 13,231 Total allowance for credit losses for loans$594,020 $594,054 $532,541 Allowance for credit losses for loans as a % of total loans 1.20% 1.22% 1.06% Our loan portfolio, totaling $49.4 billion at June 30, 2025, had net loan charge-offs totaling $37.8 million for the second quarter 2025 as compared to $41.9 million and $36.8 million for the first quarter 2025 and the second quarter 2024, respectively. Gross loan charge-offs totaled $42.1 million for the second quarter 2025 and included $23.1 million of partial and full charge-offs related to five non-performing C&I loan relationships with combined specific reserves of $11.2 million at March 31, 2025. The allowance for credit losses for loans, comprised of our allowance for loan losses and unfunded credit commitments, as a percentage of total loans was 1.20 percent at June 30, 2025, 1.22 percent at March 31, 2025, and 1.06 percent at June 30, 2024. For the second quarter 2025, the provision for credit losses for loans totaled $37.8 million as compared to $62.7 million and $82.1 million for the first quarter 2025 and second quarter 2024, respectively. The second quarter 2025 provision reflects, among other factors, the impact of loan growth mainly within the C&I loan portfolio and loan charge-offs, partially offset by a decline in quantitative reserves in certain loan categories and lower specific reserves associated with collateral dependent loans at June 30, 2025. Capital Adequacy Valley's total risk-based capital, Tier 1 capital, common equity tier 1 capital, and Tier 1 leverage capital ratios were 13.67 percent, 11.57 percent, 10.85 percent and 9.49 percent, respectively, at June 30, 2025 as compared to 13.91 percent, 11.53 percent, 10.80 percent and 9.41 percent, respectively, at March 31, 2025. The reduction in our total risk-based capital ratio reflects the early redemption of our $115 million of 5.25 percent fixed-to-floating rate subordinated notes due in June 2030, which was previously eligible for full regulatory capital treatment. Investor Conference Call Valley’s CEO, Ira Robbins, will host a conference call with investors and the financial community at 11:00 AM (ET) today to discuss Valley's second quarter 2025 earnings. Interested parties should preregister using this link: https://register.vevent.com/register to receive the dial-in number and a personal PIN, which are required to access the conference call. The teleconference will also be webcast live: https://edge.media-server.com and archived on Valley’s website through Monday, August 25, 2025. Investor presentation materials will be made available prior to the conference call at valley.com. About Valley As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with approximately $63 billion in assets. Valley is committed to giving people and businesses the power to succeed. Valley operates many convenient branch locations and commercial banking offices across New Jersey, New York, Florida, Alabama, California, and Illinois, and is committed to providing the most convenient service, the latest innovations and an experienced and knowledgeable team dedicated to meeting customer needs. Helping communities grow and prosper is the heart of Valley’s corporate citizenship philosophy. To learn more about Valley, go to valley.com or call our Customer Care Center at 800-522-4100. Forward-Looking Statements The foregoing contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management’s confidence and strategies and management’s expectations about our business, new and existing programs and products, acquisitions, relationships, opportunities, taxation, technology, market conditions and economic expectations. These statements may be identified by such forward-looking terminology as “intend,” “should,” “expect,” “believe,” “view,” “opportunity,” “allow,” “continues,” “reflects,” “would,” “could,” “typically,” “usually,” “anticipate,” “may,” “estimate,” “outlook,” “project” or similar statements or variations of such terms. Such forward-looking statements involve certain risks and uncertainties. Actual results may differ materially from such forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to: the impact of market interest rates and monetary and fiscal policies of the U.S. federal government and its agencies in connection with prolonged inflationary pressures, which could have a material adverse effect on our clients, our business, our employees, and our ability to provide services to our customers;the impact of unfavorable macroeconomic conditions or downturns, including instability or volatility in financial markets resulting from the impact of tariffs, any retaliatory actions, related market uncertainty, or other factors; U.S. government debt default or rating downgrade; unanticipated loan delinquencies; loss of collateral; decreased service revenues; increased business disruptions or failures; reductions in employment; and other potential negative effects on our business, employees or clients caused by factors outside of our control, such as new legislation and policy changes under the current U.S. presidential administration, geopolitical instabilities or events, natural and other disasters, including severe weather events, health emergencies, acts of terrorism, or other external events;the impact of any potential instability within the U.S. financial sector or future bank failures, including the possibility of a run on deposits by a coordinated deposit base, and the impact of the actual or perceived concerns regarding the soundness, or creditworthiness, of other financial institutions, including any resulting disruption within the financial markets, increased expenses, including Federal Deposit Insurance Corporation insurance assessments, or adverse impact on our stock price, deposits or our ability to borrow or raise capital;the impact of negative public opinion regarding Valley or banks in general that damages our reputation and adversely impacts business and revenues;changes in the statutes, regulations, policies, or enforcement priorities of the federal bank regulatory agencies;the loss of or decrease in lower-cost funding sources within our deposit base;damage verdicts, settlements or restrictions related to existing or potential class action litigation or individual litigation arising from claims of violations of laws or regulations, contractual claims, breach of fiduciary responsibility, negligence, fraud, environmental laws, patent, trademark or other intellectual property infringement, misappropriation or other violation, employment related claims, and other matters;a prolonged downturn and contraction in the economy, as well as an unexpected decline in commercial real estate values collateralizing a significant portion of our loan portfolio;higher or lower than expected income tax expense or tax rates, including increases or decreases resulting from changes in uncertain tax position liabilities, tax laws, regulations, and case law;the inability to grow customer deposits to keep pace with the level of loan growth;a material change in our allowance for credit losses due to forecasted economic conditions and/or unexpected credit deterioration in our loan and investment portfolios;the need to supplement debt or equity capital to maintain or exceed internal capital thresholds;changes in our business, strategy, market conditions or other factors that may negatively impact the estimated fair value of our goodwill and other intangible assets and result in future impairment charges;greater than expected technology-related costs due to, among other factors, prolonged or failed implementations, additional project staffing and obsolescence caused by continuous and rapid market innovations;increased competitive challenges, including our ability to stay current with rapid technological changes in the financial services industry;cyberattacks, ransomware attacks, computer viruses, malware or other cybersecurity incidents that may breach the security of our websites or other systems or networks to obtain unauthorized access to personal, confidential, proprietary or sensitive information, destroy data, disable or degrade service, or sabotage our systems or networks, and the increasing sophistication of such attacks;results of examinations by the Office of the Comptroller of the Currency (OCC), the Federal Reserve Bank, the Consumer Financial Protection Bureau and other regulatory authorities, including the possibility that any such regulatory authority may, among other things, require us to increase our allowance for credit losses, write-down assets, reimburse customers, change the way we do business, or limit or eliminate certain other banking activities;application of the OCC heightened regulatory standards for certain large insured national banks, and the expenses we will incur to develop policies, programs, and systems that comply with the enhanced standards applicable to us;our inability or determination not to pay dividends at current levels, or at all, because of inadequate earnings, regulatory restrictions or limitations, changes in our capital requirements, or a decision to increase capital by retaining more earnings;unanticipated loan delinquencies, loss of collateral, decreased service revenues, and other potential negative effects on our business caused by severe weather, pandemics or other public health crises, acts of terrorism or other external events;our ability to successfully execute our business plan and strategic initiatives; andunexpected significant declines in the loan portfolio due to the lack of economic expansion, increased competition, large prepayments, risk mitigation strategies, changes in regulatory lending guidance or other factors. A detailed discussion of factors that could affect our results is included in our SEC filings, including Item 1A. "Risk Factors" of our Annual Report on Form 10-K for the year ended December 31, 2024. We undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in our expectations, except as required by law. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. -Tables to Follow- VALLEY NATIONAL BANCORPCONSOLIDATED FINANCIAL HIGHLIGHTSSELECTED FINANCIAL DATA Three Months Ended Six Months Ended June 30, March 31, June 30, June 30,($ in thousands, except for share data and stock price) 2025 2025 2024 2025 2024 FINANCIAL DATA: Net interest income - FTE (1)$433,675 $421,378 $402,984 $855,052 $797,831 Net interest income$432,408 $420,105 $401,685 $852,513 $795,233 Non-interest income 62,604 58,294 51,213 120,898 112,628 Total revenue 495,012 478,399 452,898 973,411 907,861 Non-interest expense 284,122 276,618 277,497 560,740 557,807 Pre-provision net revenue 210,890 201,781 175,401 412,671 350,054 Provision for credit losses 37,799 62,661 82,070 100,460 127,270 Income tax expense 39,924 33,062 22,907 72,986 56,080 Net income 133,167 106,058 70,424 239,225 166,704 Dividends on preferred stock 6,948 6,955 4,108 13,903 8,227 Net income available to common shareholders$126,219 $99,103 $66,316 $225,322 $158,477 Weighted average number of common shares outstanding: Basic 560,336,610 559,613,272 509,141,252 559,976,939 508,740,986 Diluted 562,312,330 563,305,525 510,338,502 563,431,390 510,437,959 Per common share data: Basic earnings$0.23 $0.18 $0.13 $0.40 $0.31 Diluted earnings 0.22 0.18 0.13 0.40 0.31 Cash dividends declared 0.11 0.11 0.11 0.22 0.22 Closing stock price - high 9.20 10.42 8.02 10.42 10.80 Closing stock price - low 7.87 8.56 6.52 7.87 6.52 FINANCIAL RATIOS: Net interest margin 3.01% 2.95% 2.83% 2.98% 2.81%Net interest margin - FTE (1) 3.01 2.96 2.84 2.99 2.81 Annualized return on average assets 0.86 0.69 0.46 0.77 0.54 Annualized return on avg. shareholders' equity 7.08 5.69 4.17 6.39 4.95 NON-GAAP FINANCIAL DATA AND RATIOS: (2) Basic earnings per share, as adjusted$0.23 $0.18 $0.13 $0.40 $0.32 Diluted earnings per share, as adjusted 0.23 0.18 0.13 0.40 0.32 Annualized return on average assets, as adjusted 0.87% 0.69% 0.47% 0.78% 0.56%Annualized return on average shareholders' equity, as adjusted 7.15 5.69 4.24 6.42 5.08 Annualized return on average tangible shareholders' equity 9.62 7.76 5.95 8.70 7.07 Annualized return on average tangible shareholders' equity, as adjusted 9.71 7.76 6.05 8.74 7.25 Efficiency ratio 55.20 55.87 59.62 55.53 59.36 AVERAGE BALANCE SHEET ITEMS: Assets$62,106,945 $61,502,768 $61,518,639 $61,806,614 $61,387,754 Interest earning assets 57,553,624 56,891,691 56,772,950 57,224,486 56,695,874 Loans 49,032,637 48,654,921 50,020,901 48,844,823 50,133,746 Interest bearing liabilities 41,913,735 41,230,709 41,576,344 41,574,732 41,566,466 Deposits 49,907,124 49,139,303 49,383,209 49,525,957 48,979,591 Shareholders' equity 7,524,231 7,458,177 6,753,981 7,491,395 6,739,838 VALLEY NATIONAL BANCORPCONSOLIDATED FINANCIAL HIGHLIGHTS As OfBALANCE SHEET ITEMS:June 30, March 31, December 31, September 30, June 30,(In thousands) 2025 2025 2024 2024 2024 Assets$62,705,358 $61,865,655 $62,491,691 $62,092,332 $62,058,974 Total loans 49,391,420 48,657,128 48,799,711 49,355,319 50,311,702 Deposits 50,725,284 49,965,844 50,075,857 50,395,966 50,112,177 Shareholders' equity 7,575,421 7,499,897 7,435,127 6,972,380 6,737,737 LOANS: (In thousands) Commercial and industrial$10,870,036 $10,150,205 $9,931,400 $9,799,287 $9,479,147 Commercial real estate: Non-owner occupied 11,747,491 11,945,222 12,344,355 12,647,649 13,710,015 Multifamily 8,434,173 8,420,385 8,299,250 8,612,936 8,976,264 Owner occupied 5,789,397 5,722,014 5,886,620 5,654,147 5,536,844 Construction 2,854,859 3,026,935 3,114,733 3,487,464 3,545,723 Total commercial real estate 28,825,920 29,114,556 29,644,958 30,402,196 31,768,846 Residential mortgage 5,709,971 5,636,407 5,632,516 5,684,079 5,627,113 Consumer: Home equity 634,553 602,161 604,433 581,181 566,467 Automobile 2,178,841 2,041,227 1,901,065 1,823,738 1,762,852 Other consumer 1,172,099 1,112,572 1,085,339 1,064,838 1,107,277 Total consumer loans 3,985,493 3,755,960 3,590,837 3,469,757 3,436,596 Total loans$49,391,420 $48,657,128 $48,799,711 $49,355,319 $50,311,702 CAPITAL RATIOS: Book value per common share$12.89 $12.76 $12.67 $13.00 $12.82 Tangible book value per common share (2) 9.35 9.21 9.10 9.06 8.87 Tangible common equity to tangible assets (2) 8.63% 8.61% 8.40% 7.68% 7.52%Tier 1 leverage capital 9.49 9.41 9.16 8.40 8.19 Common equity tier 1 capital 10.85 10.80 10.82 9.57 9.55 Tier 1 risk-based capital 11.57 11.53 11.55 10.29 9.98 Total risk-based capital 13.67 13.91 13.87 12.56 12.17 VALLEY NATIONAL BANCORPCONSOLIDATED FINANCIAL HIGHLIGHTS Three Months Ended Six Months EndedALLOWANCE FOR CREDIT LOSSES:June 30, March 31, June 30, June 30,($ in thousands) 2025 2025 2024 2025 2024 Allowance for credit losses for loans Beginning balance - Allowance for credit losses for loans$594,054 $573,328 $487,269 $573,328 $465,550 Loans charged-off: Commercial and industrial (25,189) (28,456) (14,721) (53,645) (29,014)Commercial real estate (14,623) (12,260) (22,144) (26,883) (23,348)Construction — (1,163) (212) (1,163) (7,806)Total consumer (2,259) (2,140) (1,262) (4,399) (3,071)Total loans charged-off (42,071) (44,019) (38,339) (86,090) (63,239)Charged-off loans recovered: Commercial and industrial 2,789 810 742 3,599 1,424 Commercial real estate 188 249 150 437 391 Construction 455 — — 455 — Residential mortgage 37 168 5 205 30 Total consumer 773 843 603 1,616 1,000 Total loans recovered 4,242 2,070 1,500 6,312 2,845 Total net charge-offs (37,829) (41,949) (36,839) (79,778) (60,394)Provision for credit losses for loans 37,795 62,675 82,111 100,470 127,385 Ending balance$594,020 $594,054 $532,541 $594,020 $532,541 Components of allowance for credit losses for loans: Allowance for loan losses$579,500 $578,200 $519,310 $579,500 $519,310 Allowance for unfunded credit commitments 14,520 15,854 13,231 14,520 13,231 Allowance for credit losses for loans$594,020 $594,054 $532,541 $594,020 $532,541 Components of provision for credit losses for loans: Provision for credit losses for loans$39,129 $61,299 $86,901 $100,428 $133,624 (Credit) provision for unfunded credit commitments (1,334) 1,376 (4,790) 42 (6,239)Total provision for credit losses for loans$37,795 $62,675 $82,111 $100,470 $127,385 Annualized ratio of total net charge-offs to total average loans 0.31% 0.34% 0.29% 0.33% 0.24%Allowance for credit losses for loans as a % of total loans 1.20% 1.22% 1.06% 1.20% 1.06% VALLEY NATIONAL BANCORPCONSOLIDATED FINANCIAL HIGHLIGHTS As OfASSET QUALITY:June 30, March 31, December 31, September 30, June 30,($ in thousands) 2025 2025 2024 2024 2024 Accruing past due loans: 30 to 59 days past due: Commercial and industrial$10,451 $3,609 $2,389 $4,537 $5,086 Commercial real estate 42,884 170 20,902 76,370 1,879 Construction 35,000 — — — — Residential mortgage 21,744 16,747 21,295 19,549 17,389 Total consumer 12,878 12,887 12,552 14,672 21,639 Total 30 to 59 days past due 122,957 33,413 57,138 115,128 45,993 60 to 89 days past due: Commercial and industrial 1,095 420 1,007 1,238 1,621 Commercial real estate 60,601 — 24,903 43,926 — Residential mortgage 7,627 7,700 5,773 6,892 6,632 Total consumer 4,001 2,408 4,484 2,732 3,671 Total 60 to 89 days past due 73,324 10,528 36,167 54,788 11,924 90 or more days past due: Commercial and industrial — — 1,307 1,786 2,739 Commercial real estate — — — — 4,242 Construction — — — — 3,990 Residential mortgage 2,062 6,892 3,533 1,931 2,609 Total consumer 859 864 1,049 1,063 898 Total 90 or more days past due 2,921 7,756 5,889 4,780 14,478 Total accruing past due loans$199,202 $51,697 $99,194 $174,696 $72,395 Non-accrual loans: Commercial and industrial$90,973 $110,146 $136,675 $120,575 $102,942 Commercial real estate 193,604 172,011 157,231 113,752 123,011 Construction 24,068 24,275 24,591 24,657 45,380 Residential mortgage 41,099 35,393 36,786 33,075 28,322 Total consumer 4,615 4,626 4,215 4,260 3,624 Total non-accrual loans 354,359 346,451 359,498 296,319 303,279 Other real estate owned (OREO) 4,783 7,714 12,150 7,172 8,059 Other repossessed assets 1,642 2,054 1,681 1,611 1,607 Total non-performing assets$360,784 $356,219 $373,329 $305,102 $312,945 Total non-accrual loans as a % of loans 0.72% 0.71% 0.74% 0.60% 0.60%Total accruing past due and non-accrual loans as a % of loans 1.12% 0.82% 0.94% 0.95% 0.75%Allowance for losses on loans as a % of non-accrual loans 163.53% 166.89% 155.45% 185.05% 171.23% NOTES TO SELECTED FINANCIAL DATA (1)Net interest income and net interest margin are presented on a tax equivalent basis using a 21 percent federal tax rate. Valley believes that this presentation provides comparability of net interest income and net interest margin arising from both taxable and tax-exempt sources and is consistent with industry practice and SEC rules.(2)Non-GAAP Reconciliations. This press release contains certain supplemental financial information, described in the Notes below, which has been determined by methods other than U.S. Generally Accepted Accounting Principles ("GAAP") that management uses in its analysis of Valley's performance. The Company believes that the non-GAAP financial measures provide useful supplemental information to both management and investors in understanding Valley’s underlying operational performance, business and performance trends, and may facilitate comparisons of our current and prior performance with the performance of others in the financial services industry. Management utilizes these measures for internal planning, forecasting and analysis purposes. Management believes that Valley’s presentation and discussion of this supplemental information, together with the accompanying reconciliations to the GAAP financial measures, also allows investors to view performance in a manner similar to management. These non-GAAP financial measures should not be considered in isolation or as a substitute for or superior to financial measures calculated in accordance with U.S. GAAP. These non-GAAP financial measures may also be calculated differently from similar measures disclosed by other companies. Non-GAAP Reconciliations to GAAP Financial Measures Three Months Ended Six Months Ended June 30, March 31, June 30, June 30,($ in thousands, except for share data) 2025 2025 2024 2025 2024 Adjusted net income available to common shareholders (non-GAAP): Net income, as reported (GAAP)$133,167 $106,058 $70,424 $239,225 $166,704 Add: Loss on extinguishment of debt 922 — — 922 — Add: FDIC special assessment (a) — — 1,363 — 8,757 Add: Losses on available for sale and held to maturity debt securities, net (b) — 11 4 11 11 Add: Restructuring charge (c) 800 — 334 800 954 Less: Gain on sale of commercial premium finance lending division (d) — — — — (3,629)Total non-GAAP adjustments to net income 1,722 11 1,701 1,733 6,093 Income tax adjustments related to non-GAAP adjustments (e) (474) (3) (482) (477) (1,706)Net income, as adjusted (non-GAAP)$134,415 $106,066 $71,643 $240,481 $171,091 Dividends on preferred stock 6,948 6,955 4,108 13,903 8,227 Net income available to common shareholders, as adjusted (non-GAAP)$127,467 $99,111 $67,535 $226,578 $162,864 __________ (a) Included in the FDIC insurance assessment.(b) Included in gains on securities transactions, net.(c) Represents severance expense related to workforce reductions within salary and employee benefits expense.(d) Included in other income within non-interest income.(e) Calculated using the appropriate blended statutory tax rate for the applicable period. Adjusted per common share data (non-GAAP): Net income available to common shareholders, as adjusted (non-GAAP)$127,467 $99,111 $67,535 $226,578 $162,864 Average number of shares outstanding 560,336,610 559,613,272 509,141,252 559,976,939 508,740,986 Basic earnings, as adjusted (non-GAAP)$0.23 $0.18 $0.13 $0.40 $0.32 Average number of diluted shares outstanding 562,312,330 563,305,525 510,338,502 563,431,390 510,437,959 Diluted earnings, as adjusted (non-GAAP)$0.23 $0.18 $0.13 $0.40 $0.32 Adjusted annualized return on average tangible shareholders' equity (non-GAAP): Net income, as adjusted (non-GAAP)$134,415 $106,066 $71,643 $240,481 $171,091 Average shareholders' equity$7,524,231 $7,458,177 $6,753,981 $7,491,395 $6,739,838 Less: Average goodwill and other intangible assets 1,987,381 1,994,061 2,016,766 1,990,702 2,020,883 Average tangible shareholders' equity$5,536,850 $5,464,116 $4,737,215 $5,500,693 $4,718,955 Annualized return on average tangible shareholders' equity, as adjusted (non-GAAP) 9.71% 7.76% 6.05% 8.74% 7.25%Adjusted annualized return on average assets (non-GAAP): Net income, as adjusted (non-GAAP)$134,415 $106,066 $71,643 $240,481 $171,091 Average assets$62,106,945 $61,502,768 $61,518,639 $61,806,614 $61,387,754 Annualized return on average assets, as adjusted (non-GAAP) 0.87% 0.69% 0.47% 0.78% 0.56% Non-GAAP Reconciliations to GAAP Financial Measures (Continued) Three Months Ended Six Months Ended June 30, March 31, June 30, June 30,($ in thousands, except for share data) 2025 2025 2024 2025 2024 Adjusted annualized return on average shareholders' equity (non-GAAP): Net income, as adjusted (non-GAAP)$134,415 $106,066 $71,643 $240,481 $171,091 Average shareholders' equity$7,524,231 $7,458,177 $6,753,981 $7,491,395 $6,739,838 Annualized return on average shareholders' equity, as adjusted (non-GAAP) 7.15% 5.69% 4.24% 6.42% 5.08%Annualized return on average tangible shareholders' equity (non-GAAP): Net income, as reported (GAAP)$133,167 $106,058 $70,424 $239,225 $166,704 Average shareholders' equity$7,524,231 $7,458,177 $6,753,981 $7,491,395 $6,739,838 Less: Average goodwill and other intangible assets 1,987,381 1,994,061 2,016,766 1,990,702 2,020,883 Average tangible shareholders' equity$5,536,850 $5,464,116 $4,737,215 $5,500,693 $4,718,955 Annualized return on average tangible shareholders' equity (non-GAAP) 9.62% 7.76% 5.95% 8.70% 7.07% Efficiency ratio (non-GAAP): Non-interest expense, as reported (GAAP)$284,122 $276,618 $277,497 $560,740 $557,807 Less: Loss on extinguishment of debt (pre-tax) 922 — — 922 — Less: FDIC special assessment (pre-tax) — — 1,363 — 8,757 Less: Restructuring charge (pre-tax) 800 — 334 800 954 Less: Amortization of tax credit investments (pre-tax) 9,134 9,320 5,791 18,454 11,353 Non-interest expense, as adjusted (non-GAAP)$273,266 $267,298 $270,009 $540,564 $536,743 Net interest income, as reported (GAAP) 432,408 420,105 401,685 852,513 795,233 Non-interest income, as reported (GAAP) 62,604 58,294 51,213 120,898 112,628 Add: Losses on available for sale and held to maturity securities transactions, net (pre-tax) — 11 4 11 11 Less: Gain on sale of premium finance division (pre-tax) — — — — (3,629)Non-interest income, as adjusted (non-GAAP)$62,604 $58,305 $51,217 $120,909 $109,010 Gross operating income, as adjusted (non-GAAP)$495,012 $478,410 $452,902 $973,422 $904,243 Efficiency ratio (non-GAAP) 55.20% 55.87% 59.62% 55.53% 59.36% As of June 30, March 31, December 31, September 30, June 30,($ in thousands, except for share data) 2025 2025 2024 2024 2024 Tangible book value per common share (non-GAAP): Common shares outstanding 560,281,821 560,028,101 558,786,093 509,252,936 509,205,014 Shareholders' equity (GAAP)$7,575,421 $7,499,897 $7,435,127 $6,972,380 $6,737,737 Less: Preferred stock 354,345 354,345 354,345 354,345 209,691 Less: Goodwill and other intangible assets 1,983,515 1,990,276 1,997,597 2,004,414 2,012,580 Tangible common shareholders' equity (non-GAAP)$5,237,561 $5,155,276 $5,083,185 $4,613,621 $4,515,466 Tangible book value per common share (non-GAAP)$9.35 $9.21 $9.10 $9.06 $8.87 Tangible common equity to tangible assets (non-GAAP): Tangible common shareholders' equity (non-GAAP)$5,237,561 $5,155,276 $5,083,185 $4,613,621 $4,515,466 Total assets (GAAP)$62,705,358 $61,865,655 $62,491,691 $62,092,332 $62,058,974 Less: Goodwill and other intangible assets 1,983,515 1,990,276 1,997,597 2,004,414 2,012,580 Tangible assets (non-GAAP)$60,721,843 $59,875,379 $60,494,094 $60,087,918 $60,046,394 Tangible common equity to tangible assets (non-GAAP) 8.63% 8.61% 8.40% 7.68% 7.52% VALLEY NATIONAL BANCORPCONSOLIDATED STATEMENTS OF FINANCIAL CONDITION(in thousands, except for share data) June 30, December 31, 2025 2024 (Unaudited) Assets Cash and due from banks$440,870 $411,412 Interest bearing deposits with banks 745,547 1,478,713 Investment securities: Equity securities 77,408 71,513 Available for sale debt securities 3,896,205 3,369,724 Held to maturity debt securities (net of allowance for credit losses of $637 at June 30, 2025 and $647 at December 31, 2024) 3,530,924 3,531,573 Total investment securities 7,504,537 6,972,810 Loans held for sale (includes fair value of $9,146 at June 30, 2025 and $16,931 at December 31, 2024 for loans originated for sale) 28,096 25,681 Loans 49,391,420 48,799,711 Less: Allowance for loan losses (579,500) (558,850)Net loans 48,811,920 48,240,861 Premises and equipment, net 337,371 350,796 Lease right of use assets 332,324 328,475 Bank owned life insurance 735,026 731,574 Accrued interest receivable 238,278 239,941 Goodwill 1,868,936 1,868,936 Other intangible assets, net 114,579 128,661 Other assets 1,547,874 1,713,831 Total Assets$62,705,358 $62,491,691 Liabilities Deposits: Non-interest bearing$11,746,770 $11,428,674 Interest bearing: Savings, NOW and money market 26,091,633 26,304,639 Time 12,886,881 12,342,544 Total deposits 50,725,284 50,075,857 Short-term borrowings 162,244 72,718 Long-term borrowings 2,903,091 3,174,155 Junior subordinated debentures issued to capital trusts 57,629 57,455 Lease liabilities 392,633 388,303 Accrued expenses and other liabilities 889,056 1,288,076 Total Liabilities 55,129,937 55,056,564 Shareholders’ Equity Preferred stock, no par value; 50,000,000 authorized shares: Series A (4,600,000 shares issued at June 30, 2025 and December 31, 2024) 111,590 111,590 Series B (4,000,000 shares issued at June 30, 2025 and December 31, 2024) 98,101 98,101 Series C (6,000,000 shares issued at June 30, 2025 and December 31, 2024) 144,654 144,654 Common stock (no par value, authorized 650,000,000 shares; issued 560,522,946 shares at June 30, 2025 and 558,786,093 shares at December 31, 2024) 196,606 195,998 Surplus 5,451,543 5,442,070 Retained earnings 1,694,903 1,598,048 Accumulated other comprehensive loss (119,889) (155,334)Treasury stock, at cost (241,125 common shares at June 30, 2025) (2,087) — Total Shareholders’ Equity 7,575,421 7,435,127 Total Liabilities and Shareholders’ Equity$62,705,358 $62,491,691 VALLEY NATIONAL BANCORPCONSOLIDATED STATEMENTS OF INCOME (Unaudited)(in thousands, except for share data) Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, 2025 2025 2024 2025 2024 Interest Income Interest and fees on loans$720,282 $703,609 $770,964 $1,423,891 $1,542,517 Interest and dividends on investment securities: Taxable 67,164 63,898 40,460 131,062 76,257 Tax-exempt 4,681 4,702 4,799 9,383 9,595 Dividends 5,528 5,664 6,341 11,192 13,169 Interest on federal funds sold and other short-term investments 7,357 6,879 10,902 14,236 20,584 Total interest income 805,012 784,752 833,466 1,589,764 1,662,122 Interest Expense Interest on deposits: Savings, NOW and money market 203,390 200,221 231,597 403,611 464,103 Time 129,324 125,069 160,442 254,393 311,507 Interest on short-term borrowings 1,736 2,946 691 4,682 21,303 Interest on long-term borrowings and junior subordinated debentures 38,154 36,411 39,051 74,565 69,976 Total interest expense 372,604 364,647 431,781 737,251 866,889 Net Interest Income 432,408 420,105 401,685 852,513 795,233 Provision (credit) for credit losses for available for sale and held to maturity securities 4 (14) (41) (10) (115)Provision for credit losses for loans 37,795 62,675 82,111 100,470 127,385 Net Interest Income After Provision for Credit Losses 394,609 357,444 319,615 752,053 667,963 Non-Interest Income Wealth management and trust fees 14,056 15,031 13,136 29,087 31,066 Insurance commissions 3,430 3,402 3,958 6,832 6,209 Capital markets 9,767 6,940 7,779 16,707 13,449 Service charges on deposit accounts 14,705 12,726 11,212 27,431 22,461 (Losses) gains on securities transactions, net (1) 46 3 45 52 Fees from loan servicing 3,671 3,215 2,691 6,886 5,879 Gains on sales of loans, net 2,025 2,197 884 4,222 2,502 Bank owned life insurance 6,019 4,777 4,545 10,796 7,780 Other 8,932 9,960 7,005 18,892 23,230 Total non-interest income 62,604 58,294 51,213 120,898 112,628 Non-Interest Expense Salary and employee benefits expense 145,422 142,618 140,815 288,040 282,646 Net occupancy expense 25,483 25,888 24,252 51,371 48,575 Technology, furniture and equipment expense 30,667 29,896 35,203 60,563 70,665 FDIC insurance assessment 12,192 12,867 14,446 25,059 32,682 Amortization of other intangible assets 7,427 8,019 8,568 15,446 17,980 Professional and legal fees 19,970 15,670 17,938 35,640 34,403 Loss on extinguishment of debt 922 — — 922 — Amortization of tax credit investments 9,134 9,320 5,791 18,454 11,353 Other 32,905 32,340 30,484 65,245 59,503 Total non-interest expense 284,122 276,618 277,497 560,740 557,807 Income Before Income Taxes 173,091 139,120 93,331 312,211 222,784 Income tax expense 39,924 33,062 22,907 72,986 56,080 Net Income 133,167 106,058 70,424 239,225 166,704 Dividends on preferred stock 6,948 6,955 4,108 13,903 8,227 Net Income Available to Common Shareholders$126,219 $99,103 $66,316 $225,322 $158,477 VALLEY NATIONAL BANCORPQuarterly Analysis of Average Assets, Liabilities and Shareholders' Equity andNet Interest Income on a Tax Equivalent Basis Three Months Ended June 30, 2025 March 31, 2025 June 30, 2024 Average Avg. Average Avg. Average Avg.($ in thousands) Balance Interest Rate Balance Interest Rate Balance Interest RateAssets Interest earning assets: Loans (1)(2)$49,032,637 $720,305 5.88% $48,654,921 $703,632 5.78% $50,020,901 $770,987 6.17%Taxable investments (3) 7,350,792 72,692 3.96 7,100,958 69,562 3.92 5,379,101 46,801 3.48 Tax-exempt investments (1)(3) 544,302 5,925 4.35 552,291 5,952 4.31 575,272 6,075 4.22 Interest bearing deposits with banks 625,893 7,357 4.70 583,521 6,879 4.72 797,676 10,902 5.47 Total interest earning assets 57,553,624 806,279 5.60 56,891,691 786,025 5.53 56,772,950 834,765 5.88 Other assets 4,553,321 4,611,077 4,745,689 Total assets$62,106,945 $61,502,768 $61,518,639 Liabilities and shareholders' equity Interest bearing liabilities: Savings, NOW and money market deposits$26,451,349 $203,390 3.08% $26,345,983 $200,221 3.04% $24,848,266 $231,597 3.73%Time deposits 12,119,461 129,324 4.27 11,570,758 125,069 4.32 13,311,381 160,442 4.82 Short-term borrowings 196,491 1,736 3.53 307,637 2,946 3.83 97,502 691 2.83 Long-term borrowings (4) 3,146,434 38,154 4.85 3,006,331 36,411 4.84 3,319,195 39,051 4.71 Total interest bearing liabilities 41,913,735 372,604 3.56 41,230,709 364,647 3.54 41,576,344 431,781 4.15 Non-interest bearing deposits 11,336,314 11,222,562 11,223,562 Other liabilities 1,332,665 1,591,320 1,964,752 Shareholders' equity 7,524,231 7,458,177 6,753,981 Total liabilities and shareholders' equity$62,106,945 $61,502,768 $61,518,639 Net interest income/interest rate spread (5) $433,675 2.04% $421,378 1.99% $402,984 1.73%Tax equivalent adjustment (1,267) (1,273) (1,299) Net interest income, as reported $432,408 $420,105 $401,685 Net interest margin (6) 3.01% 2.95% 2.83%Tax equivalent effect 0.00 0.01 0.01 Net interest margin on a fully tax equivalent basis (6) 3.01% 2.96% 2.84% ____________ (1) Interest income is presented on a tax equivalent basis using a 21 percent federal tax rate.(2) Loans are stated net of unearned income and include non-accrual loans.(3) The yield for securities that are classified as available for sale is based on the average historical amortized cost.(4) Includes junior subordinated debentures issued to capital trusts which are presented separately on the consolidated statements of financial condition.(5) Interest rate spread represents the difference between the average yield on interest earning assets and the average cost of interest bearing liabilities and is presented on a fully tax equivalent basis.(6) Net interest income as a percentage of total average interest earning assets. SHAREHOLDER RELATIONSRequests for copies of reports and/or other inquiries should be directed to Tina Zarkadas, Assistant Vice President, Shareholder Relations Specialist, Valley National Bancorp, 70 Speedwell Avenue, Morristown, New Jersey, 07960, by telephone at (973) 305-3380, by fax at (973) 305-1364 or by e-mail at tzarkadas@valley.com. Contact: Travis Lan Senior Executive Vice President and Chief Financial Officer 973-686-5007

Valley National Bancorp Announces Second Quarter 2025 Results

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